The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-09-21
THE WEEKS TRADE
Anhdp,tiors Of St.ingsncy justified BY the
Pressure Now Felt.
Many of the Leading Markets Very Short
Treasury Absorbing Money-Produetlon
of Pig Iron-Failures.

NEW YORK, September 16,-R. G. Dun &
Co. in their weekly review OF trade say:
Ali anticipations of momentary stringency
this fall, which were expressed months ago
are abundantly justified by the pressure
now felt in spite OF supplies from abroad,
far beyond anticipation. Were the mer-
chaIdise movement alone to control, gold
would be going out in large amounts. In
stead, gold is coming in largely through
operations of syndicates, in the purchase
of securities, or for other investments or
Boston market is tight, many millions
having been sent West for railroad build
ing or other operations Philadelphia is
cautious because of recent failures,
and consequences not wholly
disclosed. Cincinnati banks are
forced to especial conservatism
by the Cincinnati, Hamilton and Dayton
uncertainties and the effects of the Fidelity
col Pc LbItago reports an enormous
u,ine,s cone ty note brokers, and high
rates hid by merchants and manufacturers.
81 iugtncy is reported at Nashville and
tlsLta With active demand at full rates
u New Orleans and the demand in CIeve-
lid, Omaha, Kansas City aud other cities,
n' usually brisK on account of activity
in trade or In building.
The treasury continues to absorb money.
IL 0OlOS dL Hi more gOlQ
than last SATURDAY. and $500, 900 more legal
tenders, against 500 600 less silver. But
the treasury absorption obviously does not
account for the scarcity, 10 view of
the large importers of god, an 1
the conclusion is unavoidable that
the drain of money to the West and S)uth
is unusually large. Great difficulty in
making time loans, because New York
banks have no money to spare except
cause curtailment Of commercial trsnsac.
tons. Months ago it was foreseen that
real estate speculation, and the attempt to
do in one year all the building needed for
several years to come would cause some
embarrassment, which is now felt.
The weekly production of pig iron is not
smaller than a year ago, as some assert,
but according to the Iron Age, an increase
of 10 per cent. Except for few grades,
continue with much complaint of under
valuations. Wheat hes been dull and
lower in spite of the reduction of ocean
rates for grain to Liverpool. Large ex-
por.s from California In August aud
a nominal price above 81 per bushel,
are officially reported. and suggest
that the effects OF the corner are still felt
at Liverpool. Corn is shade lower, with
somewhat better prospects as to yield, but
IueIe - no AOuSSf OOuOI IudI Tue CEo
was greatly diminished by the drought,
another effect of which is seen in heavy
shipments of critic TO a depressed market.
Oil doomed TO about IS cents on re-
ports of meeting of producers at Pitts
burg on Monday, but collapsed to 90 cents
on Wednesday, recovering little
stree. The wool market drags ltte-
lessly. The boot and shoe trade
still improves, and dry goods are fairly
sustained, but with irrregularity ia
the demand, which makes some qualities
scarce while others move slowly. Exports
of breadstuffs, provisions, cotton, cattle
and oil in August were 49,, 900 600 in valus
! 6.3 per cent above the same month las;
year. But imports at New York for Au,
gust show an increase OF Is per cent. Gold
comes this way, not in payment for goods,
but as loan.
The business failures during the las
seven days number for the United State.
| 165, for Canada %, total 1sS compared
with Ia last week and 165 for the CORE 3
ponding week OF last year.